USDA’s latest grain export inspection report, out Monday morning and covering the week through December 12, held mixed but mostly solid results for traders to digest. Soybean volume led the way despite seeing some modest week-over-week declines. Corn volume was also relatively strong, notching modest weekly improvements. Wheat volume also moved higher week-over-week, staying a bit toward the higher end of analyst estimates.

Corn export inspections tracked slightly above the prior week’s tally after reaching 44.5 million bushels. That was also on the higher end of analyst estimates, which ranged between 29.5 million and 47.2 million bushels. Cumulative totals for the 2024/25 marketing year remain moderately ahead of last year’s pace after reaching 523.6 million bushels.

Mexico was the No. 1 destination for U.S. corn export inspections last week, with 14.9 million bushels. Japan, Spain, Colombia and South Korea rounded out the top five.

Sorghum export inspections roughly doubled the prior week’s tally after reaching 5.8 million bushels. That grain is bound for China, Nigeria and Mexico. Cumulative totals for the 2024/25 marketing year are still tracking moderately below last year’s pace so far after reaching 51.4 million bushels.

Soybean export inspections moved modestly lower week-over-week after reaching 61.6 million bushels. That was slightly on the lower end of analyst estimates, which ranged between 47.8 million and 80.8 million bushels. Cumulative totals for the 2024/25 marketing year are still tracking moderately above last year’s pace after reaching 927.1 million bushels.

Related:This Week in Agribusiness, Jan. 11, 2025

China was by far the No. 1 destination for U.S. soybean export inspections last week, with 37.7 million bushels. Mexico, Bangladesh, Vietnam and Egypt filled out the top five.

Wheat export inspections trended moderately higher week-over-week after reaching 11.0 million bushels. That was toward the higher end of analyst estimates, which ranged between 7.3 million and 12.9 million bushels. Cumulative totals for the 2024/25 marketing year widened the lead over last year’s pace after reaching 423.9 million bushels.

Mexico was the No. 1 destination for U.S. wheat export inspections last week, with 2.6 million bushels. Japan, Thailand, Taiwan and Mauritania rounded out the top five.

Click here for more highlights from the latest USDA grain export inspection report, which covers the week through December 12.